Post-Brexit: What 2017 Will Bring for Life Sciences & Healthcare Division?

While Brexit manages to make the front page news even after more than six months, the uncertainty of the entire situation still persists. It is imperative to take a peek into what is the current scenario for life sciences and healthcare division in the UK, and what can be expected from this New Year, the first year post-Brexit.

Recently in September 2016, the UK Government approved the Brexit report by the UK life sciences industry, which was later presented to the UK EU Life Sciences Steering Group. However, it is still uncertain that how the government would willingly accommodate the demand of life sciences and healthcare sector.

It is still unclear that how would be the exact relationship of the UK Government with the EU in the overall negotiation strategy after Brexit broke in. Reports say that there are mixed messages about this entire situation, especially regarding the government’s take on life sciences and healthcare division.

November 21, 2016

To boost innovation in the UK, including life sciences and healthcare division, Theresa May announced surplus funding and tax incentives for R&D. Excess funds will be distributed through a new national productivity investment fund to be established with around 23 Bn pounds.

November 23, 2016

This date marked the UK EU Life Science Steering Group’s second meeting with an agenda of analyzing work progress in various streams under the transition program. The meeting concluded with an analysis of the sector impact on trade, people, regulatory, and others sections.

The European Medicines Agency (London) has already set up a Brexit task force, which is supposed to relocate after the UK exits the EU. This agency will be co-chaired by Tony Humphreys and Nowl Wathion, and is currently preparing for the challenges that are coming its way after the actual exit. At the moment, there is a confusion about exactly when the relocation is supposed to be carried out but as per reliable reports, France, Denmark, Italy, Spain, Ireland, and Sweden have intimated their interest in hosting the agency.